JP Morgan Sees Average of $78 Oil in 2018

[Rodent + 1,419]

Perhaps a bit optimistic. Either way, odd that this comes out on the day that oil prices falter as fears of growing inventory in US.

https://oilprice.com/Energy/Energy-General/JP-Morgan-Oil-Could-Hit-78-Within-Months.html

[Marina Schwarz + 1,576]

Could JP Morgan be the new Goldman Sachs, changing their opinion every week? We shall see. 

[TomTom + 183]

Lol, Jamie Dimon also changed opinion on Bitcoin... even though it's crashing right now.

[Marina Schwarz + 1,576]

I was wrong. Goldman is still Goldman:

"Goldman Sachs Group Inc. hiked its short-term crude oil price forecast by as much as 33 percent, saying the market is now likely balanced.

The bank now estimates Brent will reach $75 a barrel over the next three months and will climb to $82.50 within six months, analysts including Damien Courvalin wrote in an emailed report."

Do I hear $100? $100 anyone? 

[TraderTate + 183]

Don't see it happening. Waiting for the inventory build ...

[Rodent + 1,419]

Pierre Andurand thinks so, at least as of August.  https://www.marketwatch.com/story/trader-who-predicted-oil-under-30-says-prices-could-rally-to-100-2017-12-06

 

[Addy + 14]

These predictions are fairly meaningless, although can sometimes be self-fulfilling prophecy. I love the ones that give huge ranges. I personally predict oil prices in 2018 will be between $30 ad $100 per barrel.